• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 29, a spokesperson for the Southern Theater Command issued a statement. Senior Colonel Zhai Shichen, spokesperson for the Southern Theater Command, stated that from June 27 to 28, the Peoples Liberation Army Southern Theater Command organized naval and air forces to conduct routine patrols in the South China Sea. The statement addressed the Philippines efforts to stir up trouble in the South China Sea by rallying external countries to organize so-called "joint patrols," undermining regional peace and stability. The Theater Command will resolutely defend national territorial sovereignty and maritime rights and interests, and firmly safeguard regional peace and stability.June 29th - The newly revised recommended national standard, "Quality of Passenger Services in Public Air Transport," will take effect on July 1st. This standard will help improve the standardization of passenger services in public air transport by guiding and improving service quality. The standard mainly includes three aspects: first, establishing general principles for passenger services in public air transport; second, clarifying the quality requirements for the entire service chain; and third, standardizing specific service content. After its implementation, this standard will help improve the service quality of the entire industry, guide the civil aviation industry to continuously optimize service processes and improve service quality, promote high-quality development of the industry, and continuously enhance the level of civil aviation services, thereby increasing the publics satisfaction and sense of gain in travel.On June 29th, Omdia reported that TVs using independent red, green, and blue (RGB) LED chip backlighting technology are expected to account for 13% of global TV market revenue by 2030, a significant increase from 3% in 2026. RGB LED backlighting technology officially entered the retail market in the first quarter of 2026, becoming the latest generation of display technology innovation in the TV industry. The introduction of this technology reflects that, against the backdrop of increasingly homogenized traditional hardware, TV brands are strengthening high-end display technologies to drive product value enhancement and revenue growth.A Taliban spokesman said Pakistani airstrikes in the Afghan border region have killed and wounded dozens of people.June 29th – The first China-Shanghai Cooperation Organisation (SCO) Science and Technology Innovation Cooperation Conference was held in Qingdao, Shandong Province on June 29th. The conference, themed "Smart SCO, Shared Future – Building a New Ecosystem of Open and Inclusive International Science and Technology Cooperation," brought together government officials, renowned scientists, technology business leaders, and young science and technology pioneers from SCO member states to conduct in-depth and multi-dimensional dialogues and industry matchmaking on key topics such as artificial intelligence applications, cutting-edge technology transfer, and innovation resource sharing. During the conference, a series of activities were held, including the release of 100 scientific and technological achievements and 100 technological needs between China and SCO member states, the signing of SCO member states science and technology innovation cooperation projects, and the SCO Member States Youth Innovation and Entrepreneurship Competition.

Crypto winter may temper fintech earnings

Jimmy Khan

Aug 04, 2022 14:41

微信截图_20220804141531.png


Wall Street has lowered earnings expectations for once high-flying fintechs Coinbase and Block, as a chill in the cryptocurrency market adds more pain to the companies already grappling with surging costs and rapidly rising rates.


Crypto exchange Coinbase is expected to report an adjusted loss in the second quarter, while Jack Dorsey-led payments company Block is likely to post a 70% drop in adjusted profit.


Coinbase, which has the biggest exposure to crypto volatility, has lost more than three quarters of its market capitalization this year.


“For Coinbase, this is going to be a very difficult 12 to 18 months,” said Dan Dolev, senior analyst, fintech equity research at Mizuho Securities USA.


Block, which changed its name from Square last year to better reflect its focus on blockchain, has lost over half of its market value amid the stock market rout this year.

The context

The cryptocurrency selloff has dragged down multiple companies in the sector, with some even seeking bankruptcy protection. Bitcoin, the largest cryptocurrency, has nearly halved in value in the first seven months of the year.


“There could be potential for double digit headcount reduction (at Coinbase) at some point because the cost is too high,” Dolev said.


Estimate cuts and competitive pressures are also contributing to the weakness in fintech stocks, according to Credit Suisse analysts.


The cryptocurrency sector may be slowly emerging from a bruising selloff, but they still have to contend with regulatory hurdles in the United States, the biggest market for such assets.


Online trading app Robinhood Markets Inc reported a 44% plunge in second-quarter earnings on Tuesday, a day earlier than expected, and said it would also cut 23% of its workforce.